The new store will be located on the ground floor of the Foundry, a 12-story, 222-unit residential building at 505 W. 54th St. Independent broker Michael Shapiro represented D'Agostino and building owner Gotham Organization Inc. Terms of the deal were not disclosed but the asking price for the space was $45 per sf.
Clinton Special District Coalition president John Fisher says the watchdog group is guardedly optimistic about the project, particularly since the neighborhood's only other supermarket, the Food Emporium at Ninth Avenue and 55th Street, recently shut its doors. The organization's only concern is the D'Agostino chain's reputation for opening upscale stores with prices to match.
"The neighborhood definitely needs a supermarket and 14,000 sf is a reasonable size," Fisher tells GlobeSt.com. "We just hope they come in with reasonable prices."
Gotham Organization president David Picket tells GlobeSt.com that while he is not in the grocery business, common sense dictates that prices will be reasonable. "I don't think they would set prices the neighborhood couldn't afford. That wouldn't make much sense," he says. "It's what I wanted as a supermarket. They run a great store."
D'Agostino representatives did not return calls for comment.
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